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Growth Volatility and Financial Liberalization
Bekaert, Geert - 2004
variability. We show that financial liberalization is mostly associated with lower consumption growth volatility. Our results are … volatility after equity market openings. The results hold for both total and idiosyncratic consumption growth volatility. We also … find that financial liberalizations are associated with declines in the ratio of consumption growth volatility to GDP …
Persistent link: https://www.econbiz.de/10012468133
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Does Financial Liberalization Spur Growth?
Bekaert, Geert - 2001
We show that equity market liberalizations, on average, lead to a one percent increase in annual real economic growth over a five-year period. The liberalization effect is not spuriously accounted for by macro-economic reforms and does not reflect a business cycle effect. Although financial...
Persistent link: https://www.econbiz.de/10012470479
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Financial Openness and Productivity
Bekaert, Geert - 2009
Financial openness is often associated with higher rates of economic growth. We show that the impact of openness on factor productivity growth is more important than the effect on capital growth. This explains why the growth effects of liberalization appear to be largely permanent, not...
Persistent link: https://www.econbiz.de/10012463805
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Global Growth Opportunities and Market Integration
Bekaert, Geert - 2004
between its "exogenous" global PE ratio and the world market PE ratio should predict relative growth …
Persistent link: https://www.econbiz.de/10012467697